Signs of the gold price rising strongly again this morning....
As for the future, it's worth looking back at previous bull markets in gold for potential comparisons from the past. The 1976–1980 run, for instance, was fuelled by a period of stagflation and heightened geopolitical tensions. Gold appreciated 701% over 177 weeks, with the steepest gains towards the end of the period.
The datapoint below puts this year's climb in context of what happened back then. Yes, the gold price is up a lot over 2024/25 but there is still plenty of room for it to run if past bull markets provide any guide.
(20min delay)